The United States is a highly developed mixed economy. It is the world’s largest economy by nominal GDP; it is also the second largest by purchasing power parity (PPP), behind China. It has the world’s sixth highest per capita GDP (nominal) and the eighth highest per capita GDP (PPP) as of 2024. The U.S. accounted for 26% of the global economy in 2023 in nominal terms, and about 15.5% in PPP terms.

• There are many issues related to Economy & Jobs that Congress is looking to address with legislation. In the ‘About’ section of this post is an overview of the issues and potential solutions, party positions, and web links. Other sections have information on relevant committees, chairs, & caucuses; departments & agencies; and the judiciary, nonpartisan & partisan organizations, and a wikipedia entry.
• The Economy & Jobs category has related posts and three posts on issues of particular focus: High Tech Manufacturing, Income Equality, and Inflation.

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In economics, inflation is a general increase in the prices of goods and services in an economy. This is usually measured using the consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index.[9] As prices faced by households do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose.

• In the ‘About’ section of this post is an overview of the issues or challenges, potential solutions, and web links. Other sections have information on relevant legislation, committees, agencies, programs in addition to information on the judiciary, nonpartisan & partisan organizations, and a wikipedia entry.
• To participate in ongoing forums, ask the post’s curators questions, and make suggestions, scroll to the ‘Discuss’ section at the bottom of each post or select the “comment” icon.

The Inflation category has related posts on government agencies and departments and  committees and their Chairs.

Income inequality refers to how unevenly income is distributed throughout a population. The less equal the distribution, the greater the income inequality. Income inequality is often accompanied by wealth inequality, which is the uneven distribution of wealth.

• In the ‘About’ section of this post is an overview of the issues or challenges, potential solutions, and web links. Other sections have information on relevant legislation, committees, agencies, programs in addition to information on the judiciary, nonpartisan & partisan organizations, and a wikipedia entry.
• To participate in ongoing forums, ask the post’s curators questions, and make suggestions, scroll to the ‘Discuss’ section at the bottom of each post or select the “comment” icon.

The US Democracy category has related posts on government agencies and departments and  committees and their Chairs.

High-tech manufacturing is the process of using sophisticated equipment and advanced technologies to produce products that require precision and high quality

• In the ‘About’ section of this post is an overview of the issues or challenges, potential solutions, and web links. Other sections have information on relevant legislation, committees, agencies, programs in addition to information on the judiciary, nonpartisan & partisan organizations, and a wikipedia entry.
• To participate in ongoing forums, ask the post’s curators questions, and make suggestions, scroll to the ‘Discuss’ section at the bottom of each post or select the “comment” icon.

The High Tech Manufacturing category has related posts on government agencies and departments and  committees and their Chairs.

The United States Department of Commerce is an executive department of the U.S. federal government concerned with promoting economic growth.[clarification needed] Among its tasks are gathering economic and demographic data for business and government decision making, and helping to set industrial standards.

This organization’s main purpose is to create jobs, promote economic growth, encourage sustainable development and block harmful trade practices of other nations. The Department of Commerce is headquartered in the Herbert C. Hoover Building in Washington, DC.

The United States Department of Labor (DOL) is a cabinet-level department of the U.S. federal government, responsible for occupational safety and health, wage and hour standards, unemployment benefits, reemployment services, and occasionally, economic statistics. Many U.S. states also have such departments. The Department of Labor is headed by the U.S. Secretary of Labor.

The purpose of the Department of Labor is to foster, promote, and develop the well being of the wage earners, job seekers, and retirees of the United States; improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights.

The Department of the Treasury (USDT) is the national treasury of the federal government of the United States where it serves as an executive department. The department oversees the Bureau of Engraving and Printing, and the U.S. Mint; these two agencies are responsible for printing all paper currency and coins, while the treasury executes its circulation in the domestic fiscal system.

The USDT collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet.

The Joint Economic Committee (JEC) was created when Congress passed the Employment Act of 1946. Under this Act, Congress established two advisory panels: the President’s Council of Economic Advisers (CEA) and the Joint Economic Committee. Their primary tasks are to review economic conditions and to recommend improvements in economic policy.

Chairmanship of the Committee alternates between the Senate and House every Congress.  The JEC is currently chaired by Senator Martin Heinrich of New Mexico.

Democratic Senate Members (Majority):
Martin Heinrich, New Mexico, Chair
Amy Klobuchar, Minnesota
Maggie Hassan, New Hampshire
Mark Kelly, Arizona
John Fetterman, Pennsylvania
Peter Welch, Vermont

Democratic House Members (Minority):
Don Beyer, Virginia
David Trone, Maryland
Gwen Moore, Wisconsin
Katie Porter, California

Republican House Members (Majority):
David Schweikert, Arizona, Vice-Chair
Jodey Arrington, Texas
Ron Estes, Kansas
Drew Ferguson, Georgia
Lloyd Smucker, Pennsylvania
Nicole Malliotakis, New York

Republican Senate Member (Minority):
Mike Lee, Utah,
Tom Cotton, Arkansas
J. D. Vance, Ohio
Eric Schmitt, Missouri

Mission:  Oversight over matters related to banks and banking, price controls, deposit insurance, export promotion and controls, federal monetary policy, financial aid to commerce and industry, issuance of redemption of notes, currency and coinage, public and private housing, urban development, mass transit and government contracts.

Democratic Members (Minority):
Elizabeth Warren, Massachusetts, Ranking Member
Jack Reed, Rhode Island
Mark Warner, Virginia
Chris Van Hollen, Maryland
Catherine Cortez Masto, Nevada
Tina Smith, Minnesota
Raphael Warnock, Georgia
Andy Kim, New Jersey
Ruben Gallego, Arizona
Lisa Blunt Rochester, Delaware
Angela Alsobrooks, Maryland

Republican Members (Majority):
Tim Scott, South Carolina, Chair
Mike Crapo, Idaho
Mike Rounds, South Dakota
Thom Tillis, North Carolina
John Kennedy, Louisiana
Bill Hagerty, Tennessee
Cynthia Lummis, Wyoming
Katie Britt, Alabama
Kevin Cramer, North Dakota
Pete Ricketts, Nebraska
Bernie Moreno, Ohio
Dave McCormick, Pennsylvania

Featured Video:
Committee on Banking, Housing and Urban Affairs conducts Annual Oversight of Wall Street Firms

Mission:  
The United States Senate Committee on Health, Education, Labor and Pensions (HELP) generally considers matters relating to these issues. Its jurisdiction extends beyond these issues to include several more specific areas, as defined by Senate rules.

House counterpart: Committee on Education and Labor

Democratic Members (Minority):
Bernie Sanders, Vermont – Ranking Member
Patty Murray, Washington
Tammy Baldwin, Wisconsin
Chris Murphy, Connecticut
Tim Kaine, Virginia
Lisa Blunt Rochester, Delaware
Angela Alsobrooks, Maryland
Ed Markey, Massachusetts
Andy Kim, New Jersey

Republican Members (Majority):
Bill Cassidy, Louisiana,
Rand Paul, Kentucky
Susan Collins, Maine
Lisa Murkowski, Alaska
Roger Marshall, Kansas
Tommy Tuberville, Alabama
Josh Hawley, Missouri
Tim Scott, South Carolina
Jim Banks, Indiana
Mike Crapo, Idaho
Marsha Blackburn, Tennessee

Featured Video: 
Senate Health, Education, Labor, and Pensions Cmte Hearing on COVID-19

Mission:  
Has broad jurisdiction over all matters concerning interstate commerce, science and technology policy, and transportation, the Senate Commerce Committee is one of the largest of the Senate’s standing committees, with 26 members in the 117th Congress.

House counterparts: Energy and Commerce Committee; Science, Space, and Technology Committee; and Transportation and Infrastructure Committee

Democratic Members (Minority):
Maria Cantwell, Washington, Ranking Member
Amy Klobuchar, Minnesota
Brian Schatz, Hawaii
Ed Markey, Massachusetts
Gary Peters, Michigan
Tammy Baldwin, Wisconsin
Tammy Duckworth, Illinois
Jacky Rosen, Nevada
Ben Ray Luján, New Mexico
John Hickenlooper, Colorado
John Fetterman, Pennsylvania
Andy Kim, New Jersey
Lisa Blunt Rochester, Delaware

Republican Members (Majority):
Ted Cruz, Texas, Chair
John Thune, South Dakota
Roger Wicker, Mississippi
Deb Fischer, Nebraska
Jerry Moran, Kansas
Dan Sullivan, Alaska
Marsha Blackburn, Tennessee
Todd Young, Indiana
Ted Budd, North Carolina
Eric Schmitt, Missouri
Shelley Moore Capito, West Virginia
Cynthia Lummis, Wyoming
John Curtis, Utah
Bernie Moreno, Ohio
Tim Sheehy, Montana

Featured Video: 
U.S. Senate Committee on Commerce, Science, and Transportation Hearing Q&A 06/24/2021

Mission:  
The Committee on Agriculture has general jurisdiction over federal agriculture policy and oversight of some federal agencies, and it can recommend funding appropriations for various governmental agencies, programs, and activities, as defined by House rules.

Senate counterpart:  Committee on Agriculture 

Subcommittees:

• Commodity Markets, Digital Assets and Rural Development
• Conservation, Research and Biotechnology
• Forestry
• General Farm Commodities, Risk Management, and Credit
• Livestock, Dairy and Poultry
• Nutrition, Foreign Agriculture and Horticulture

Chair: Glenn Thompson, Pennsylvania (R)
Ranking Member: David Scott, Georgia (D)

Staff Director Majority: Parish Braden
Staff Director Minority: Anne Simmons
Meeting Location: 1301 Longworth House Office Building; Washington, DC 20515 (202-225-2171)

Featured Video:  21st Century Food Systems – Aug. 3, 2021
Web Links

The Committee on Education and the Workforce is a standing committee of the United States House of Representatives. There are 50 members of this committee. Since 2023, the chair of the Education and the Workforce committee is Virginia Foxx of North Carolina.

Senate counterpart: Committee on Health, Education, Labor, and Pensions

Subcommittees:

• Early Childhood, Elementary and Secondary Education
• Health, Employment, Labor, and Pensions
• Higher Education and Workforce Investment
• Workforce Protections

Chair: Virginia Foxx, North Carolina (R)
Ranking Member: Bobby Scott, Virginia (D)

Majority Staff Director: Cyrus Artz
Minority Staff Director: Veronique Pluviose
Meeting Location: 2176 Rayburn House Office Building Washington, DC 20515; 202-225-4527

Featured Video:  Examining the Policies and Priorities of the U.S. Department of Education – 6/24/21
Web Links

The Committee on Energy and Commerce serves as the principal guide for the House in matters relating to the promotion of commerce and to the public’s health and marketplace interests, with the relatively recent addition of energy considerations among them.

Senate counterparts: Committee on Commerce, Science, and Transportation and Committee on Energy and Natural Resources

Subcommittees:

•  Communications and Technology
• Energy, Climate and Grid Security
• Environment, Manufacturing and Critical Minerals
• Health
• Innovation, Data and Commerce
• Oversight and Investigations

Chair: Cathy McMorris Rodgers, Washington (R)
Ranking Member: Frank Pallone, New Jersey (D)

Majority Staff Director: N/A
Minority Staff Director: N/A
Meeting Location:

Featured Video: 
Disinformation Nation: Social Media’s Role in Promoting Extremism and Misinformation – March 25, 2021

The Committee on Financial Services, also referred to as the House Banking Committee, oversees the entire financial services industry, including the securities, insurance, banking and housing industries. The Financial Services Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission and other financial services regulators.

Senate counterpart: Committee on Banking, Housing, and Urban Affairs

Subcommittees:

• Capital Markets
• Digital Assets, Financial Technology and Inclusion
• Financial Institutions and Monetary Policy
• Housing and Insurance
• National Security, Illicit Finance, and International Financial Institutions

Chair: Patrick McHenry, North Carolina (R)
Ranking Member: Maxine Waters, California (D)

Majority Staff Director: Matt Hoffmann
Minority Staff Director: Charla Ouertatani
Meeting Location: 2129 Rayburn House Office Building Washington, DC 20515
(202) 225-7502

Featured Video: 
The Promises and Perils of Central Bank Digital Currencies – July 28, 2021

On December 4, 1941, the U. S. House of Representatives created the first House Select Committee on Small Business.  The select committee was established in response to a growing number of small business activists and organizations advocating for more protections and better government policies for America’s small businesses. While it had no legislative authority, the select committee became popular with House members and was reauthorized each Congress until January 5, 1975, when it was made a permanent standing committee. House members then granted the new standing committee with certain areas of legislative jurisdiction and oversight functions, increasing its scope and influence.

Senate Counterpart: Senate Committee on Small Business & Entrepreneurship 

Subcommittees:

• Contracting and Infrastructure
• Economic Growth, Tax and Capital Access
• Innovation, Entrepreneurship, and Workforce Development
• Oversight, Investigations and Regulations
• Rural Development, Energy and Supply Chains

Chair: Roger Williams, Texas
Ranking Member: Nydia Velázquez, New York

Majority Staff Director: Ben Johnson
Minority Staff Director: Harrington, Ellen
Meeting Location: 2361 RAYBURN HOUSE OFFICE BUILDING (RHOB), WASHINGTON, D.C. 20515; PHONE (202) 225-5821
Web Links

The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) antitrust law and the promotion of consumer protection. The FTC shares jurisdiction over federal civil antitrust law enforcement with the Department of Justice Antitrust Division. The agency is headquartered in the Federal Trade Commission Building in Washington, DC.

The FTC is composed of five commissioners, who each serve seven-year terms. Members of the commission are nominated by the President and subject to Senate confirmation, and no more than three FTC members can be of the same party. One member of the body serves as FTC Chair at the President’s pleasure, with Commissioner Lina Khan having served as chair since June 2021.

Source: Wikipedia

The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation.

In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes. The SEC was created by Section 4 of the Securities Exchange Act of 1934 (now codified as 15 U.S.C. § 78d and commonly referred to as the Exchange Act or the 1934 Act).

Source: Wikipedia